Elevance Health Shares Plunge 1.09% on 31% Volume Drop as CFO Shift Sparks Leadership Concerns High-Liquidity Strategy Surpasses 166% Return in Volatile Market

On August 11, 2025, Elevance Health (ELV) closed with a 1.09% decline, trading a volume of $0.48 billion, a 31.08% drop from the previous day. This marked a significant reduction in liquidity compared to recent trading sessions.

The recent leadership transition at UnitedHealth Group, with the appointment of Wayne DeVeydt as CFO, has drawn market attention. DeVeydt, who previously served as Elevance Health's CFO from 2007 to 2016, now leads financial strategy at the competing insurer. This shift could impact investor perceptions of Elevance's leadership continuity and strategic direction.

A backtest of a strategy purchasing the top 500 stocks by daily trading volume and holding for one day generated a 166.71% return from 2022 to the present, outperforming the benchmark by 137.53%. This highlights the potential of liquidity-driven approaches in capturing short-term market momentum, particularly in volatile conditions.